BUZZ-HSBC's Hong Kong shares slip on report of job cuts

Reuters
02-14
BUZZ-HSBC's Hong Kong shares slip on report of job cuts

** Hong Kong shares of HSBC Holdings 0005.HK slip 0.6% to HK$84.3; set to snap eight consecutive sessions of gains

** HSBC HSBA.L plans new round of investment bank job cuts next week as CEO Georges Elhedery continues to overhaul bank, slash cost, Bloomberg reports

** Co preparing to report $1.5 bln of annual cost savings from changes implemented under its broad restructuring initiatives, Financial Times reported

** Stock on track for biggest one-day pct fall since Jan. 23; top pct loser in Hang Seng Finance Index .HSNF, which is up 0.9%

** HK-listed stock rose 23.2% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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